Officials say plans to demolish the former Reid Hospital in Richmond are expected to move forward without a previously-requested source of funding. The Palladium-Item reports the city’s Redevelopment Commission has approved a measure to fund the project itself after a previous estimate to take down and clean up the long-abandoned property turned out to cost more than twice what Indianapolis-based Renascent Inc. is set to officially bid. The Board of Public Works is set Thursday to vote on a formal contract for the work.
The price of the work was previously expected to be more than $8 million. Renascent says it could do the job for under $3.5 million and the Economic Development Corp. of Wayne County has pledged $1.42 million toward the demolition. With the less expensive bid and by voting to take on the yet-to-be-finalized costs of the project, the city has decided against loans from the state that were previously on the table. Additionally, the publication reports City Controller Beth Fields says city and county officials are working on additional partnerships, which could be announced by the end of the year.
Final details of the demolition are expected to be announced December 21.